Customer Commitment – How Our Service Aligns With Your Business

By: Jeff Hatch

August 08, 2018

The Warrantech team understands the importance of a positive service experience. We see ourselves as an extension of our business partners on every call and every transaction we make. That’s why we provide our customer service team with the knowledge, training, skills, resources and environment needed to provide an exceptional service experience with every customer.

We also follow a few simple guidelines to maintain high customer satisfaction.

1. Strive To Be The Best
We continuously go out of our way to make sure the quality of service provided to all customers is first-rate. Our quality assurance team monitors all personnel on a daily basis and provides feedback on:

  • Performance and professionalism

  • Customer interaction

  • Procedural adherence

  • Claims adjudication

  • System usage and documentation

  • Call lengths

The Warrantech management team also works to identify strengths and weaknesses so that we can effectively manage our workforce and optimize service. 

2. Create A Positive Experience
Our proactive approach creates a customer who is not only satisfied with the outcome of the transaction, but a customer who walks away from the encounter with a confident outlook on their extended service contract, and, most importantly, your business. Through continual training and monitoring, we are able to establish consistency in each interaction and deliver a positive customer experience.

3. Provide Value
Exceptional customer service starts on day one and is built into every service plan program we create. Our transparent approach to claims and loss data, as well as customer service metrics, ensures that Warrantech service plans are priced fairly and provide value to your consumers without being confusing, hard to use, or deceiving.

4. Deliver The Best Possible Solution 
Our flexible approach to service contracts allows us to work jointly with our business partners to ensure the service contract utilized for each program meets their specific needs. Our dedicated team takes time to evaluate your business objectives, determine program structure, and set up administration and support in a way that will help drive customer loyalty and provide the best service possible.


Have questions about our plans and programs? Don’t hesitate to contact us. Visit warrantech.com, call 800.833.8801 or send us an email at info@warrantech.com. We’re happy to help! 

Filed Under: best, business, commitment, customer, experience, positive, service, solution, Warrantech

Our Financial Strength Is Your Peace Of Mind

By: Jeff Hatch

June 19, 2017

An extended service plan is a smart move. It confirms that you do indeed have a specific idea of how your products will be used and a reliable backup plan should anything go wrong. But in addition to giving time and thought to the type of coverage you’re interested in, it makes just as much sense to consider the company who will be backing your contract.  
With more than 30 years of leadership in service contract administration, Warrantech is comprised of industry veterans who average more than 23 years of experience in program evaluation and design. This wellspring of knowledge provides us with vast insight and enables our team to uncover hidden growth opportunities and structure programs that offer a high-value proposition for our partners and their customers. 

Warrantech is also a subsidiary of The Amynta Group, one of the strongest, most financially secure insurance companies in the industry. With an unwavering focus on your success, we go out of our way to deliver unparalleled service excellence in all that we do. 

A.M. Best rating of “A” (Excellent)

Named to the 2017 Fortune 500 list

Ranked 63rd on Fortune Magazine’s Fastest Growing Companies 

Named “2014 Best-Managed Company (Insurance)” by Forbes magazine 

Recognized as the most “warranty-centric” company in the industry by Warranty Week

Ranked 6th nationwide in National Association of Insurance Commissioners (NAIC) March 2014 workers’ comp market share report

A+ rated and accredited by the Better Business Bureau

Publicly traded (NASDAQ: AFSI)

More than $23.9 billion in assets

Multinational operations with offices worldwide

Having this financial strength allows us to bundle both underwriting and administration. And, as a result, it creates complete transparency and visibility to information that enables our customers to change and create plans that are both highly customized and profitable.

So whether you’re a customer, retailer, dealer, distributor, or manufacturer in the consumer or automotive market, Warrantech has a knowledgeable team that can provide a customized solution that will work specifically for you. And, just as important, offer you the financial stability to back it up so you can rest assured that you’re getting the best plan possible.

For more information, visit www.warrantech.com or call 800.833.8801.

Filed Under: best, financial, forbes, fortune, stability, Warrantech

Warrantech Sets Itself Apart From The Competition

By: Jeff Hatch

April 22, 2015

Sean Stapleton, Warrantech president and CEO, recently took part in an executive forum with TWICE magazine. Here’s what he had to say in response to the following question:
 
In such a competitive category, how do you stand out and differentiate yourself from amongst the competition?
 
Warrantech Corporation delivers customized programs tailored for the unique needs of our partners. We do not agree with the “one size fits all” approach which is becoming pervasive in the industry. 
 
Unlike other providers, we offer partners the flexibility of extending their brand to their service contract programs. We believe that this approach reinforces our partner’s brand and helps drive customer loyalty and retention.
 
Additionally, we offer extensive missed point-of-sale programs designed to enhance the relationship between our partners and their customers and drive substantial incremental revenue. 
 
Warrantech is also a subsidiary of The Amynta Group — one of the strongest and most financially stable companies in the industry. Recently named “2014 Best-Managed Company (Insurance)” by Forbes, their financial strength allows us to offer a unique, bundled underwriting and administration approach that most competitors simply cannot provide.
 
Look for the full article, as well as an overview of Warrantech, in the Extended Service Contracts supplement to the April edition of TWICE. 
 
And be sure to follow Warrantech on FacebookTwitter and LinkedIn so you can keep up to date on company initiatives as they happen. 

Filed Under: administration, Best, customized, Forbes, Managed, partners, programs, revenue, TWICE, Warrantech

Tips For Buying A Vehicle Service Contract

By: Jeff Hatch

December 17, 2014

A vehicle service contract (VSC) is a smart investment. It can help cover the cost of unexpected repairs and keep your vehicle running at its best. But how do you know if the plan is right for you? Here are a few questions you can ask your VSC salesperson to make sure you know exactly what you’re getting.  

How Much Does The VSC Cost?
Obviously, money is one of the most important factors in the decision-making process. Is your vehicle worth the investment? If so, you’ll want more coverage, which means more money. However, the amount you pay now could add up to hundreds of dollars in savings later. 

What Does The VSC Cover?
Consider your driving habits and the make and model of your vehicle. For instance, if the company who manufactures your car is known for the quality of their interior components and you plan on keeping your vehicle in a garage, then you probably don’t need paint and fabric protection as part of your VSC. 

How Long Does The VSC Last?
Again, the way you drive has a big impact. If you plan on keeping the vehicle for several years or know you’ll be spending a lot of time on the road, then having a VSC makes a lot of sense. You’ll also want to know if your vehicle is currently under a manufacturer’s warranty since the VSC typically goes into effect after the manufacturer’s warranty expires.

Who Backs The VSC?
Make sure that the company behind your plan is reputable. Some good indicators to help determine credibility include an A.M. Best rating, which demonstrates financial strength and stability, and a Better Business Bureau rating, which assesses the company’s business practices. Also, look at how long the company has been in business and examine their background.

How Are Services And Claims Handled?
Find out if the company has a network of service providers. Are they in your area and readily available to work on your vehicle? Once this has been determined, inquire about claim submission and processing. Can you submit claims online? Does the company have a reliable customer service department to assist you? And do they provide fast and convenient service to help get you back on the road as soon as possible?

Don’t Be Afraid To Ask Any Other Questions You Might Have
You should never feel pressured into purchasing coverage that you don’t understand. If there is anything about your vehicle service contract that doesn’t make sense to you, don’t hesitate to ask. Always remember, it is the salesperson’s responsibility to assist you. If you don’t feel that you are getting the help you need to make a proper purchasing decision regarding your VSC, then you probably aren’t going to get the right help should something go wrong with your vehicle.

Got a question about one of our vehicle service contracts? Contact us online at https://warrantech.com/contact-us/ or call at 800.833.8801. We’re happy to help.

Filed Under: A.M., automotive, Best, Better, Bureau, Business, claims, contract, service, vehicle, VSC, Warrantech

The Importance of A.M. Best's Financial Strength Ratings

By: Global Administrator

March 28, 2014

When deciding on an extended service plan or vehicle service contract, it is important to know who is backing your coverage. Is the company reputable? Is it financially stable? And, just as significant on your part, do you really have time to research each and every company?

This is where A.M. Best comes into the picture. As the world's oldest and most authoritative insurance rating and information source, it sets the benchmark for determining an organization's credibility. Insurance agents, brokers, financial advisors, banks and other insurance professionals have all come to rely on A.M. Best's ratings and analysis to verify each insurer's financial strength. And if you're like most smart consumers who insist on doing thorough research, this rating can be one of your most valuable tools.

A.M. Best's Financial Strength Ratings provide you with an independent third-party evaluation of an insurer's ability to fulfill its financial obligations and can help serve as a key indicator as to whether or not your coverage plan is a smart long-term investment. Each rating is based on a comprehensive quantitative and qualitative evaluation of a company's balance sheet strength, operating performance and business profile. So you're basically getting a snapshot of how the company's business plan is expected to perform over an extended period of time.

And when you consider how volatile the market has been in recent years, these ratings have become even more important. A.M. Best has a proven track record in indicating which insurers may encounter financial difficulties. Or as Warranty Week noted in a recent article: "A.M. Best gets it right over the long term … there is an insistence on the part of some banks and credit unions that they won't finance a VSC (vehicle service contract) without an A- or better. And we'd suggest this threshold could also become a defining level for VSC buyers. Ask the question: 'Who is your underwriter and are they rated A- or better?' If not, why not?"

For more information on A.M Best's Financial Strength Ratings, visit http://www.ambest.com/ratings/guide.asp

 

Filed Under: A.M., Best, contract, financial, ratings, service, strength, vehicle, Warranty, Week